Iteris' Transportation Systems records 49% yoy increase in FY added backlog
Iteris announced that its Transportation Systems segment recorded $56.6 million in net bookings or added backlog for the period ending March 31, 2019, representing a 49% increase from the same prior-year period. "Over the last several quarters, we have pursued geographic growth in select markets, introduced innovative new solution offerings, enhanced our SaaS product portfolio, and expanded our consulting and managed services business," said Ramin Massoumi, senior vice president and general manager, Transportation Systems at Iteris. "These initiatives have expanded our total addressable market and increased the conversion rate on our sales opportunities in our pipeline. Looking ahead, we anticipate continued strong demand for our smart transportation solutions."